SARS UPDATES

SARS UPDATES

TAX PRACTITIONERS

SAICA is approved by SARS as a recognised controlling body in terms of section 240A of the Tax Administration Act, 2011.

The income tax system allows taxpayers who receive a travel allowance to claim a deduction for the use of their private vehicle for business purposes. In order to claim a deduction, the first step is to record your vehicle’s odometer reading on 1 March each year (the first day of the tax year for individuals) and again on the last day of February the next year (the last day of the tax year for individuals). These opening and closing readings give you your total kilometres travelled for the year. And recording your mileage will help you make an accurate claim when submitting your tax return.
To download the SARS logbook, click here.

The South African tax system is often criticised for not being simple and user-friendly.

If in doubt, consult a Tax Practitioner, this can save you lots of money and headaches in the long run.

 

The Commissioner for the South African Revenue Service (SARS) announced the publication of the prescribed list of qualifying expenses relating to physical impairment or disability and the diagnostic criteria for of disability.

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SARS has over the last few years clamped down on VAT fraud. As a result, the requirements for VAT registration have become so onerous and impractical that it is causing a lot of trouble for small businesses.

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Annual & Six-monthly employer PAYE reconciliation

Employers must now do a PAYE reconciliation and sumbission of IRP5 information to SARS on a six-monthly basis. The annual reconciliation  is normally due by the end of May. At this stage IRP5’s will also be issued. 

Other downloads:

Income tax for individuals

Income tax for small businesses

Turnover tax for small businesses

UIF Guide

STC Guide

VAT Guide

VAT Registration Guide

Interest rate table (charged by SARS)

Interest rate table (payable by SARS)